Applegreen is selling its UK filling station business to EG On The Move, a UK operator of filling stations and convenience stores. The sale is expected to close at the end of this month.
The sale involves 98 sites and employs 1,142 people, with all staff expected to transfer to the new owners as part of the transaction, apart from a very small number of employees who work in functions where there is overlap with the new owner. The company said these employees are either being redeployed or have been offered a redundancy programme.
The sale does not affect Applegreen’s Welcome Break business in the UK, which also includes its operations in Northern Ireland, which employs more than 6,000 people at its 59 sites, including 34 Motorway Service Areas (MSAs), and 31 hotels.
Applegreen co-founder and chief executive Joe Barrett said: “We remain totally committed to our presence and further expansion in the UK market and have significant plans to expand both Welcome Break and our EV charging business there, as part of the €1 billion investment plan that we announced late last year.”
The company said it will use the proceeds from the transaction to invest in its business in Ireland, the UK, and the United States.
In a statement, Applegreen said it will be continuing to invest in its filling station business, as it is an integral part of its Irish operations. “The roll out of our successful M&S partnership, which is currently in 21 locations, will continue and we are also investing to expand our Braeburn Coffee brand,” Mr Barrett said.
“There will also be further investment in new sites, and upgrades to existing locations.”
In the UK and US, Applegreen said it is increasingly focussing on larger sites, with food at the heart of the customer offer.
It said it will also continue to invest heavily in its EV charging business in Ireland, the UK and the United States, with an €85 million expansion programme planned over the next five years.
Sourse: breakingnews.ie
